Author Topic: Shafi Keisler forms new company KEISLER.com (Read 6735 times)

brads70 · « **on:** April 10, 2014 - 05:35:14 PM »

I just got this in an e-mail.....

Greetings!

I hope this email finds you in good spirits as Spring has (finally) sprung! This is the first newsletter of Keisler.com. Keisler.com is my new personal venture to assist the special car enthusiast. Thank you for taking the time to read my prior newsletters over the many years. Going forward Keisler.com will bring you valuable information about drivetrain technology, products, services and companies that will help move you forward in the market landscape. If you wish to opt out of future newsletters please click on the link at the top of the page. Otherwise, please remain my guest at Keisler.com, and send me your suggestions for content that you would like featured. As always I welcome your testimonials, photos and stories and will feature them regularly!

KEISLER.COM - Shafi Keisler's new company

I am starting a new company KEISLER.COM, LLC located in beautiful Charleston South Carolina. My website should be live by May 1, and Facebook Keisler.com will be up sooner. I bring over 22 years of product innovation in the performance Automotive Aftermarket combined with my OEM engineering, manufacturing and machinery background to this new endeavor. I am looking forward to putting my know-how and experience to work for you and the industry.

Consulting Services

1. Technical Support for installation of an existing product. Whether you have a junkyard T56 or a complete swap kit from KEI or another company, I can provide you the technical and general support in getting the transmission kit or accessory installed. KEI customers will receive discounted or no cost support.

2. Drivetrain Specification - This is a great way for you to save money and time on your next build. I will be your expert to provide the right solution for your needs - not what a salesperson wants you to buy. Provide me the scope of your build including your targets or goals, and I will provide one or more solutions to meet your goal. This will be a detailed prescription of exactly what you need, with part numbers, suppliers, pricing, Pros and Cons and other important factors. I will prevent you from making costly mistakes so common when buying a transmission or drivetrain solution - whether it be a manual transmission or automatic. I can help your installation technician or recommend a qualified professional that I trust to perform the installation correctly and efficiently to save you money. My services will pay for themselves, and save you money and time every step of the way. Most people don't understand that the transmission and driveline selection process is more complicated than the engine selection. One of the largest capital investments at automobile manufacturing companies is the transmission. My support in your planning and execution will pay dividends in time, on-road reliability, all-in cost and get you on the road quicker.

Contract Product Design & Build, Sales and Marketing Services

If it goes in a driveline, chances are I can help you bring your new product to market or add value, features, reduce cost, expand your supplier base and improve quality for your existing product.

1. New Product - If you have a product that needs to be produced, but do not know how to go about getting it done, I can assist you in all aspects of the product from womb to tomb. This includes Sales, Marketing, Product Design & Drawings, Supplier Development, Tooling and Equipment Selection & Procurement, Pilot Build & Production, Launch to Market, Quality Systems and the required infrastructure needed as well as recommendations of staffing and hiring. This pulls together all of my experience and resources, and I will contract additional staffing support as required to meet your goals. I have launched hundreds of new products in my career, in both low and high volume production, but my strength is in finding the right production method, tooling and sources to fit your needs.

2. Existing Product - If you have an existing product that needs to be moved to a different supplier, improved or modified or reengineered, I can assist you in all aspects within my experience and limitations and will add value to your product and process of making it a success.

3. Sales and Marketing - Alongside Product Development, Sales and Marketing are key strengths that I bring. Building the brand of a number of companies, including Keisler Engineering, American Gear & Transmission, Legend Gear & Transmission and One More Run are a few noteworthy mentions. There are many ways to spend a marketing dollar and I can advise on effective methods based on the budget and targeted market and sales goals.

In today's market, it is best to find the right fit of partnering for success rather than doing it all yourself and this is where I can help.

Keisler.com Innovative Products

As money permits, I will roll out new and innovative products for various markets. If you have a request or suggestion, please send it to me. I welcome co-operative joint ownership efforts given the proper investment capital. The market holds many opportunities.

Please contact me at the following:

Shafi Keisler, CEO

Keisler.com, LLC

865-414-8089 phone 8am - 6pm eastern

Web: Keisler.com (eta May 1)

Facebook: http://www.facebook.com/KeislerDotCom

Email addresses: *please send to both*

Shafi@Keisler.com

NewcoKeisler@gmail.com

COMMENTARY ON THE SALE OF KEISLER ENGINEERING INC ASSETS, BK CASE 14-30100, AND MY EFFORTS TO START A NEW COMPANY TO CONTINUE THE BUSINESS OF KEI.

In my last newsletter early February, I mentioned I was working to find potential interested parties that would like to pursue purchasing the assets of Keisler Engineering Inc and starting a new company. I received many positive responses and a lot of interest and offers of financial contributions to the new company. One particular interested party, Mr J.E.S. Jr, decided to move forward with the understanding of forming a LLC partnership with me. Those of you that wished to invest were going to become members in this new company. Unfortunately, after weeks of effort, Mr J.E.S. Jr decided to move forward without my further assistance.

Mr J.E.S. Jr placed a $150,000 bid on the KEI assets and is currently the high bidder. No one else has placed a bid to my knowledge. Today, April 10 is the deadline for counter offers and Objections to the Sale. It takes 2 bidders wanting the assets to have a chance to bring good value, so I don't expect to see "good value" come from this sale process unless another party gets involved and this is disappointing to say the least. I hope I am proved wrong and the sale yields much higher results. Considering KEI produced over $50 Million in revenues under my ownership I would say these assets are worth 3-4X more than the current bid. Just to replace what is there on the floor would cost upwards of $950,000.

By the end of this February, over $400,000 in refunds were issued to customers of Keisler Engineering Inc. There was a disruption in email service since March 14 where I have been unable to help any KEI customer needing assistance in getting refunds. If you are seeking my help for refunds, how to file your KEI claim to the court, get replacement parts, get your driveshaft, and other matters, I wish to help you if you can please email me to: NewcoKeisler@gmail.com It is important that you email me so that I have the physical record.

Sincerely,

Shafi Keisler, NewcoKeisler@Gmail.com

ToxicWolf · « **Reply #1 on:** April 10, 2014 - 05:44:36 PM »

The're baaaack.

HP_Cuda · « **Reply #2 on:** April 10, 2014 - 06:10:45 PM »

Unbelievable....

67vertman · « **Reply #3 on:** April 10, 2014 - 10:55:44 PM »

Yeap, i got the same email......I will pass!

daveh · « **Reply #4 on:** April 11, 2014 - 11:48:52 AM »

I got the same one on Monday. He included his contact information and I e-mailed him to see if he will be sending driveshaft's since I never received mine and since he mentioned them in the e-mail. That was Monday and no response yet. I'm not counting on it but hey you never know it doesn't hurt to ask.

Dave

ToxicWolf · « **Reply #5 on:** April 11, 2014 - 12:58:22 PM »

Just got the email too.

Chryco Psycho · « **Reply #6 on:** April 11, 2014 - 01:05:20 PM »

Hmm I didn't get the email , not sure why

too bad he is back

brads70 · « **Reply #7 on:** April 11, 2014 - 04:28:54 PM »

Quote from: Chryco Psycho on April 11, 2014 - 01:05:20 PM

Hmm I didn't get the email , not sure why
too bad he is back

I was thinking of you and your reply when I started this post.

GreenFishie · « **Reply #8 on:** April 12, 2014 - 01:45:30 AM »

Quote

By the end of this February, over $400,000 in refunds were issued to customers of Keisler Engineering Inc.

In the grand scheme of things, less than a half a mil in refunds paid out to customers screwed over by your shady business practices is a pittance. I'm sure the few thousand people you refunded, if you even did, had small orders of 500 bucks or less. Meanwhile my brother was suckered into buying almost 7 grand in transmission products from this guy, was promised a delivery date, then promised another delivery date ... and this went on for almost a year with excuse after excuse until he and his partner filed bankruptcy.

Last I checked my brother had neither the products he ordered nor a refund. Of course there wasn't much he could do from Afghanistan.

daveh · « **Reply #9 on:** April 12, 2014 - 05:41:15 PM »

Here is what I got back from my e-mail to him. I probably won't do anything I can get a driveshaft for a lot cheaper than going through all of that mess and aggravation.

Hi Shafi,

I was sorry to hear about your troubles last year. I was hoping you would get back on your feet again.

I�m writing because I bought the entire TKO 600 trans kit for my 71 Challenger a few years ago. I just installed it and was wondering how I would go about getting my driveshaft? Are you still able to help past loyal customers? Let me know.

Thanks and good luck

Regards,

David P. Hood

Dear David,

Thank you for your inquiry. As you may know, Keisler Engineering Inc. is currently in Chapter 7 Bankruptcy and not in operation. If you have not received your custom built driveshaft, it is unlikely KE Inc will provide it. Instead, at some point later in the year you will receive payment from the distribution of funds from the KE Inc Trustee, Mr. John Newton. These funds will likely be less than the cost of your driveshaft. I am very sorry for the failure of the company � it is tragic for all of my customers to suffer any financial loss. Again, I am very sorry.

I want to help you get your driveshaft built so that you can complete your project. It will require you to pay for the driveshaft out of pocket. The distribution from Trustee Newton would help to offset your out of pocket expense, IF YOU FILE A CLAIM BY THE DEADLINE. I cannot advise you how to file a claim, other than to suggest that you immediately contact one of the law firms listed at the bottom of the email, and inform them you wish to file a claim.

Ferguson Driveshaft, an authorized Dana Spicer distributor located in Morristown Tennesse, is the supplier used to build KEI driveshafts in recent years. Fill out the attached driveshaft measuring sheet, then call James Ferguson and provide him your data. He will build your driveshaft to the Keisler specifications, pack and ship it to you at wholesale cost plus shipping.

James Ferguson
Ferguson Driveshaft
Morristown, TN
dshaft@ymail.com
423-586-1597

Here is a list of lawers that can help you file your claim in Tennessee:
Mr. Maurice Guinn, 865-525-5300
Ms. Mary Miller, 865-934-4000
Mr. Walt Winchester or Mr. Josh Holden, 865-637-1980

I will gladly discount any product or services in the future in an effort of rebuilding my relationship with you.

YYZ · « **Reply #10 on:** April 13, 2014 - 07:18:52 AM »

First off, if anyone is owed money by Keisler Engineering and has not yet filed a formal proof of claim, then you should contact the Trustee in order to have your claim recognized.

This does not require the services of an attorney -- it is fairly simple paperwork that establishes who you are and states what you believe that you are owed.

The primary trustee is John Newton

John P. Newton, Jr.
John P. Newton, Jr., Chapter 7 Trustee
1111 Northshore Dr., Suite S-570
Knoxville, Tennessee 37919
(865) 588-5111

And in the alternative, then this lady should be able to direct one appropriately (bankruptcy is a Federal issue)

Beth Roberts Derrick
Beth Roberts Derrick, Esq.
Acting Assistant United States Trustee
Office of the United States Trustee
31 East 11 Street, 4 Floor th th
Chattanooga, TN 37402

Second, in a bankruptcy there is a defined order or priority as to who gets paid first out of what assets remain. A simplified version is:

1. Bankruptcy Trustee (they get paid for their work -- ironically you have to have money to access the bankruptcy process)
2. Gov't/taxman
3. Secured creditors (lien holders, those who have collateral etc.)
4. Unsecured creditors aka everyone else. Almost any regular customer would fall into that category, even if you had paid $5K in full, up front for a transmission kit.

Having looked over the files for the Keisler Engineering bankruptcy, in my opinion it appears unlikely that unsecured creditors will receive more than a few pennies on the dollar, if anything.

Nonetheless, if you are owed money, file the claim.

Third, Shafi's assertion that: "By the end of this February, over $400,000 in refunds were issued to customers of Keisler Engineering Inc. " is misleading at best. Once a company or individual has filed for bankruptcy, it is essentially illegal for that company to distribute funds to any creditors because it bypasses the priority established above. If Uncle Sam is owed $1MM and can't get paid because $400K went to other creditors, there will be hell to pay.

A more likely scenario is this: $400K represents roughly 80 transmission kits at $5K/pop. Anyone who had paid by credit card usually has 60-90 days to file a dispute and get their funds back if something happens with a vendor, particularly if no merchandise has been received. It's likely that Keisler Engineering averaged at least 1 transmission kit sold per day, so the $400K is more likely 'forced refunds' by customers seeking to protect themselves.

Keisler Engineering would also be obliged to refund monies paid for any orders taken just prior to the bankruptcy, because if they kept those funds when they knew or reasonably ought to have known that they were going to file for bankruptcy, then this would constitute fraud. They accepted ~$5K of funds from at least one member here less than 24 hours before declaring bankruptcy. Keisler Engineering indicated that they'd refund anything taken in the week prior to filing bankruptcy, but they may have been forced to extend that time.

4. If you're owed only a driveshaft: then consider yourself lucky as it's only a few hundred bucks as compared to several thousand. Don't hold your breath on getting anything close to what the shaft (pun intended) will cost you when the bankruptcy is finally processed. The sad part is that if Keisler Engineering actually had inventory for the driveshaft yokes, they'll be liquidated at pennies on the dollar whereas sending those parts to customers would be better for everyone. That, unfortunately, is part of the bankruptcy rules.

5. An interesting note: Shafi Keisler's other companies are listed as creditors including:

AMERICAN OVERDRIVES, 267 KINGS GRANT ROAD, MARYVILLE, TN 37804-3180
Wildwood Properties, 267 Kings Grant Road, Maryville, TN 37804-3180

Best of luck to anyone affected

ChallengerHK · « **Reply #11 on:** April 13, 2014 - 07:24:58 AM »

Said it before and I'll say it again: it's the slickters that make this hobby difficult. Somehow, though, they keep landed on their feet.

moparman82 · « **Reply #12 on:** April 13, 2014 - 08:00:55 PM »

I like how he says his new company will be offering technical support lol sure NOW he has tech support, and no real product lol

Chryco Psycho · « **Reply #13 on:** April 14, 2014 - 07:03:47 PM »

All I can offer is Stay Away .... no good before why would this be different ?

Author Topic: Shafi Keisler forms new company KEISLER.com (Read 6735 times)

brads70

Shafi Keisler forms new company KEISLER.com

ToxicWolf

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HP_Cuda

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67vertman

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daveh

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ToxicWolf

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Chryco Psycho

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brads70

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GreenFishie

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daveh

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YYZ

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ChallengerHK

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moparman82

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Chryco Psycho

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